Quebec · CCAA
Twenty-Ninth report of the Monitor – dated November 14, 2018
Court officer report · 14 November 2018
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing6 verified
- cash on handnote: Funds held by the Monitor in addition to the $98,060,399 distribution pending for the Province; primarily a $10 million Chapter 11 litigation reserve, approximately $4.8 million of interest earned on funds held for distribution (including a $0.8 million CRA tax reimbursement), and other reserves. · amount: 17000000 · currency: CAD · qualifier: approximately
- disbursementsnote: Distributions paid to claimants as of October 31, 2018, prior to deduction of claimants' attorney fees; a further $98,060,399 distribution is pending (total $417,496,639). · amount: 319436240 · currency: CAD
- operational summaryMMAC is under CCAA protection with the Plan largely implemented; the Monitor has distributed about $319 million to claimants, is still reviewing the Province's reduced final claim, and seeks a stay extension to June 19, 2019 to finish claim treatment, interest distribution and Chapter 11 litigation.
- professional feesnote: Total includes sales taxes ($255,534 fees/disbursements + $37,966 sales taxes); Richter alone $224,521 incl. taxes. Class Counsel separately seeks approx. $823,914 of accrued fees (excluding taxes). · party: Richter (Monitor), Woods, Gowling WLG and Verrill Dana (Monitor's counsel) · amount: 293500 · period: May 1, 2018 to October 31, 2018 · currency: CAD
- report date14 November 2018
- report noTwenty-Ninth Report of the Monitor